Frequently Asked Questions
Listed behind the Tabs below are some of the more frequent questions that we are asked and hopefully with these answers plus the content on our web pages we will have answered any queries you might have regarding Home Credit Finance and our loans.
However please feel free to contact us via e-mail or our freephone number if you have any unanswered queries or if you would like to chat to one of our agents via Sype this can also be arranged.
Thank you for your interest and we hope you have success in your search for a loan.
APR stands for Annual Percentage Rate.
The APR is a standard measure used across all credit products to help consumers compare the cost of loans. Because the APR reflects the annual rate of charge for a loan it results in a very high figure for loans that are designed for a short period.
The APR is, accordingly, an effective comparison tool for like products but is not, in our view, the most effective way of comparing short term and longer term products. That is why, in addition to the APR, we always show the total cost of a loan and the instalments, i.e. what you actually have to pay back in full. We believe this information gives you a clearer picture of the costs of our loans on which to base your decision whether to borrow
The cost of a loan is determined by three things – the amount that you borrow, the interest rate and the term that you choose to repay the loan back. Generally the longer the term the lower the repayment but the more the loan will cost overall. You have a choice of weekly loan repayments to suit the way that you budget.
We supply loans for any purpose – school uniforms, furniture, a new washing machine or cooker. Being unemployed and on benefits won’t affect your ability to get a loan – we count benefits as income.
You do not need a bank account however we will need to understand your financial circumstances.This will include your income and outgoings as well as how much you need to borrow and over how long.
You will need to provide us with evidence of your income, such as a bank or post office account statement, proof of your address – for example, a tenancy agreement or a utility bill and proof of identity such as passport or driving licence.
Cash Loans Available from £100 to £500
Delivered straight to your door
Manageable weekly repayments
No hidden charges.
The amount that you will have to repay is totally dependent upon the amount you borrow and the term of the loan. These details and all repayment options and terms will be shown to you by your agent and are on the pre-contract information form and will also be shown on the agreement.
Get a loan, mortgage, overdraft, credit card, contract mobile phone or even monthly car insurance and lenders 'credit check' you to predict your likely behaviour.
Scoring systems are never published and differ depending on both the lender and the product. So just because one company rejects you, it doesn't automatically mean another will.
A credit check doesn't just dictate what products you'll receive, but also how good the ones you actually get are. For example, most loan rates are ' representative', meaning the APR depends on your credit score; with credit cards, if your score's too low for the great deal you wanted, you might get accepted but sent a different product.
However, if you've past defaults, bankruptcies or CCJs, you may be better off opting for a 'bad credit' credit card.
There are two big myths to clear up though.
Universal credit 'ratings' and 'blacklists' DON'T exist
A bad risk for one lender is often a bad risk for others too.
You'll be given a different credit rating by each of the three credit reference agencies (a snapshot on the day you get it). But lenders use that score as just one part of their decision to lend.
Lenders aren't obliged to dole out credit
You have the right to settle all or part of the loan off early at any time during your agreement. You may also be entitled to a rebate of interest.
If you wish to make a partial early settlement you must tell your agent, otherwise we will assume that any advance payment is being made to cover a period where you anticipate missing payments.